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Republic of the Philippines in $1 Billion Offering

October 23, 2009

Cleary Gottlieb represented Deutsche Bank Securities, HSBC and UBS as joint lead managers and joint bookrunners in an SEC-registered offering by the Republic of the Philippines of $1 billion 6.375% global bonds due 2034. The offering closed on October 23, 2009 and the bonds were listed on the Official List of the Luxembourg Stock Exchange and admitted for trading on the Euro MTF Market.

Cleary Gottlieb is the designated underwriters’ counsel for offerings by the Philippines, which is one of Asia’s most frequent sovereign borrowers.